Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2007.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
5 people listed on the 990; $118K paid to officers and key staff.
Kate Lundsten’s $121K as Executive Director/Chairpe is at the 47th percentile of top reported officer pay among 1842 $1–10M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Kate Lundsten | $121,375 | $117,516 | $111,544 | $116,788 | $105,000 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Develops a nationally-competitive amateur youth swim team for athletic advancement and enjoyment.
Questions for Newjets INC
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The organization provides professional coaching to competitive youth, amateur swimmers.
The team hosts swim meets sanctioned by minnesota swimming.
The team offers dryland training to the swimmers.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $893K | $847K |
| Land, buildings, equipmentLn 10c | $280K | $301K |
| Total assetsLn 16 | $7.2M | $6.9M |
| LiabilitiesLn 26 | $6.6M | $6.4M |
| Net assetsLn 32 | $655K | $518K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $145K | $120K | $22K | $3K |
| Other salaries and wagesLn 7 | $346K | $307K | $37K | $2K |
| Payroll taxesLn 10 | $38K | $33K | $5K | $379 |
| Legal feesLn 11b | $266 | $186 | $80 | |
| Accounting feesLn 11c | $8K | $6K | $2K | |
| Other fees for servicesLn 11g | $17K | $12K | $5K | |
| Office expensesLn 13 | $10K | $5K | $5K | $209 |
| RoyaltiesLn 15 | $384K | $346K | $38K | |
| TravelLn 17 | $28K | $25K | $3K | |
| Depreciation, depletion and amortizationLn 22 | $36K | $33K | $4K | |
| InsuranceLn 23 | $22K | $20K | $2K | |
| Other expenses (24a–d)Ln 24 | $261K | $260K | $2K | |
| All other expensesLn 24e | $27K | $25K | $2K | |
| Total functional expensesLn 25 | $1.3M | $1.2M | $127K | $5K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $1.3M | $1.4M | −$80K | $438K | 990 PDF |
| FY2023 Viewing | $1.2M | $1.3M | −$137K | $518K | 990 PDF |
| FY2022 | $1.1M | $1.2M | −$113K | $655K | 990 PDF |
| FY2021 | $1.2M | $1.1M | $70K | $863K | 990 PDF |
| FY2020 | $915K | $902K | $12K | $832K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $1,187,024 revenue, 12 lines filed
Part VI · Governance 4 of 5 board members independent, 3 to look at
Part VIII · Statement of revenue $1,187,024 across 5 lines filed
Part IX · Statement of functional expenses $1,323,921 across 13 lines filed
Part X · Balance sheet $6,921,906 assets, 14 lines filed
Part XI · Reconciliation of net assets $518,157 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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